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Dec 27, 2012
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cliff or if we do go off the fiscal cliff it will be a small package of some tax increases, some spending cuts, but it's not going to put the economy into a recession. so what i've been telling clients is let's just hold the line right here. let's not sell precipitously. let's wait until we see the outcome. but right now i think there's a real good chance that the outcome could be positive or will muddle our way through this significant problem. >> ifill: let me ask you a question which politicians kept bringing up during this last election which is the that the uncertainty is what makes people nervous in the business world. is this the kind of uncertainty they were talking about? >> it absolutely is. you mentioned before the retail sales numbers for this christmas season and the retail sales numbers for this christmas season were very poor, very soft. this is both individuals and individuals affecting companies making decisions and it's really largely driven by their significant uncertainty about what's going to be their tax rate in 2013. they're really postponing any spending and it cle
cliff or if we do go off the fiscal cliff it will be a small package of some tax increases, some spending cuts, but it's not going to put the economy into a recession. so what i've been telling clients is let's just hold the line right here. let's not sell precipitously. let's wait until we see the outcome. but right now i think there's a real good chance that the outcome could be positive or will muddle our way through this significant problem. >> ifill: let me ask you a question which...
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Dec 28, 2012
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if we go over the fiscal cliff $700 billion of spending will be taken out of our economy. we have to change the scale of that fiscal cliff to a slight gradual bunny slope. so that our economy won't be zero next year. that is in a recession which will occur if we take $700 billion out of it because of the tax increases and spending cuts. about 100 to $200 billion is all that we can afford to take out of it. then our gross domestic product will still grow at about 2.5% to 3%. that's the first step. then speaker boehner and the president come together. they are within $500 billion of step two. $3 trillion debt reduction. all he is there to do is come back and -- $2.5 trillion -- >> next ten years. >> that's where we need them to generate the political will that's right for america's economy. >> i want to ask you about political will. we look at he is mums and it seems there is a lot of republicans that are weary of the -- agreeing to any deal because of a threat of a primary. a lot of the folks in the house chop from conservative districts. barack obama is a bad word. they do
if we go over the fiscal cliff $700 billion of spending will be taken out of our economy. we have to change the scale of that fiscal cliff to a slight gradual bunny slope. so that our economy won't be zero next year. that is in a recession which will occur if we take $700 billion out of it because of the tax increases and spending cuts. about 100 to $200 billion is all that we can afford to take out of it. then our gross domestic product will still grow at about 2.5% to 3%. that's the first...
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Dec 27, 2012
12/12
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over the fiscal cliff. charlie's at the live desk right now this morning with more on the battle ahead for both sides of the debate. charlie the 11th hour. >> the future, the immediate future of our taxes hang in the balance. the president and house republicans are now set to square off once more to cut a deal. with just five days remaining before the tax hikes and departmental cuts take effect. before christmas house republicans failed to pass the alternate plan instead placing the responsibility on president obama and senate democrats' shoulder. according to the "washington post" gop leaders vowed to go into session to vote on anything the democratic controlled senate approved. however speaker john boehner demanded the senate first take a look at the bill the house moved through a month ago that preserved the expiring tax cuts for the wealthy as well as the middle class. that's not likely given the president's position on raising taxes for those making more than $250,000 a year. >> i want us to not go ove
over the fiscal cliff. charlie's at the live desk right now this morning with more on the battle ahead for both sides of the debate. charlie the 11th hour. >> the future, the immediate future of our taxes hang in the balance. the president and house republicans are now set to square off once more to cut a deal. with just five days remaining before the tax hikes and departmental cuts take effect. before christmas house republicans failed to pass the alternate plan instead placing the...
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Dec 28, 2012
12/12
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economy will grow over the " fiscal cliff. " >> what is happening right now high pressure is staying in place and it is falling down and stall in the system. it is currently 34 degrees in santa rosa. it is not a bad start for san francisco they're waking up to 43 degrees. as we take a look at the visibility map there is a dense fog forming. it is not too bad for napa and out in concord. reports of visibility down to this 3 tens of a mile. this is only the dangerous spot here. you may want to allow yourself a little bit of extra time. >> we are tracking the storm for you. we will not see too much moisture associated with this. we will see cloud cover that will start to run but. all the white on the screeby 3:00 p.m. most of the moisture will be sitting off shore. the shower chances will increase later on tonight into the morning. by 9:00 p.m. we may have some light rain for the shoreline. as we continue to advance the clock showers will pass through for overnight hours. >> as we take a look at the afternoon highs it will be a another cold one. it will be 49 degrees for fairfield and 5
economy will grow over the " fiscal cliff. " >> what is happening right now high pressure is staying in place and it is falling down and stall in the system. it is currently 34 degrees in santa rosa. it is not a bad start for san francisco they're waking up to 43 degrees. as we take a look at the visibility map there is a dense fog forming. it is not too bad for napa and out in concord. reports of visibility down to this 3 tens of a mile. this is only the dangerous spot here....
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Dec 27, 2012
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. >> eric: thousands of jobs and billions of dollars are at stake but this is no fiscal cliff. this is the looming port strike threatening to shut ports from boston, miami and beyond. florida governor rick scott telling the media a strike will be devastating to his state's economy. governor's right but it's an entire nation about to get slammed. brent is the president of miller and long construction. we import -- we pointed out somewhere around 65% of international trade hits the ports. we import cars, we import produce, we import oil and gas. explain how this will affect the prices for people watching right now of everything. >> well, it will be very significant in a lot of ways. we're talking about eleven ports, basically from boston pretty much all the way around to houston. the reason governor scott is concerned is there are four ports in florida that will be affected. this is containerized shipping. electronic goods, food stuff and things like that. it could be massive impact, especially in this -- we had retailers getting trouble getting back on track. it will affect ever
. >> eric: thousands of jobs and billions of dollars are at stake but this is no fiscal cliff. this is the looming port strike threatening to shut ports from boston, miami and beyond. florida governor rick scott telling the media a strike will be devastating to his state's economy. governor's right but it's an entire nation about to get slammed. brent is the president of miller and long construction. we import -- we pointed out somewhere around 65% of international trade hits the ports....
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Dec 29, 2012
12/12
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all of it is at stake if the country goes over the fiscal cliff. it's a cliff that lawmakers built. they set the tuesday deadline, they knew it was coming for more than a year. but even now, they have done little to agree to a package before that time. keeping them honest, the people in this building have known what's coming on tuesday, yet they're only returning to this building to get back to work just now. senators came back yesterday. house members, well, they woet be back until sunday. this afternoon, house and senate leaders met with president obama at the white house. they talked for about an hour. afterwards, president obama said he was modestly optimistic. bypassing house speaker john boehner who had trouble getting his fellow republicans to agree to anything, the president called on senate majority and minority leaders harry reid and mitch mcconnell to work out a deal and then present it to a house. he also laid out a scaled down mini deal if they can't manage it. >> if we don't see an agreement between the two leaders in the senate, i expect a bill to go on the floor, and
all of it is at stake if the country goes over the fiscal cliff. it's a cliff that lawmakers built. they set the tuesday deadline, they knew it was coming for more than a year. but even now, they have done little to agree to a package before that time. keeping them honest, the people in this building have known what's coming on tuesday, yet they're only returning to this building to get back to work just now. senators came back yesterday. house members, well, they woet be back until sunday....
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Dec 31, 2012
12/12
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if we go over the fiscal cliff, the risk to the economy is strong. there is it to families is real. it is as if politicians are playing tug of war. as soon as we get through the fiscal cliff -- the hope is we would replace the fiscal cliff with real policies that would keep us from going over it. now looks as though we're not going to be able to do anything to tackle the challenges right now. the partisan environment is getting worse and worse. that leaves us with questions about whether these guys can govern. host: front page of "the new york times." let me read a few points. "more difficult to reach a compromise." guest: that is absolutely true. i feel we're watching a game of finger-pointing and not much else. both sides are pointing fingers and shouting it is the other guy's fault. what if any other business environment worked this way instead of solving the problems and working together? the toxic environment calls into question when we of challenges or other important issues -- can the american political system step up and deal with sit? the answer is not very well. we feel sa
if we go over the fiscal cliff, the risk to the economy is strong. there is it to families is real. it is as if politicians are playing tug of war. as soon as we get through the fiscal cliff -- the hope is we would replace the fiscal cliff with real policies that would keep us from going over it. now looks as though we're not going to be able to do anything to tackle the challenges right now. the partisan environment is getting worse and worse. that leaves us with questions about whether these...
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on top of the fiscal cliff, we may go through this all over again. it's another drag on the markets and on the whole economy at exactly the wrong time. >> when you say drag, though, give us an example of what you mean. we talked about january 2nd, everybody goes back to work and markets open. are we going to see a lot of volatility. all of a sudden it crashes down at once. what happens to wall street. >> we're going to see a lot of volume activity until the issues get resolved. it's not as if the borrowing limit directly affects companies represented in the stock market, but the problem is that washington is the whole story right now and there's so much unpredictability about the economy. u.s. treasury securities are the biggest class of securities in the world. it sort of affects everything else about the markets, the financial markets, interest rates. and if we don't quite know what's going to happen in that bedrock market, which provides a lot of liquidity, it affects everything else. there's also a psychological component, which standard & poor's
on top of the fiscal cliff, we may go through this all over again. it's another drag on the markets and on the whole economy at exactly the wrong time. >> when you say drag, though, give us an example of what you mean. we talked about january 2nd, everybody goes back to work and markets open. are we going to see a lot of volatility. all of a sudden it crashes down at once. what happens to wall street. >> we're going to see a lot of volume activity until the issues get resolved. it's...
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Dec 26, 2012
12/12
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economy from going over the fiscal cliff as a group of democrats push for the extension of most of the bush-era tax cuts, cuts they say staunchly -- they opposed years ago. joining us now to talk about it, tony -- [inaudible] a republican political analyst and consultant and a national political correspondent for talk radio news service. michael is a democratic strategist, and he joins us as well. good to see you both. tony, look, the word we're getting is that harry reid is going to pass an extension of the bush tax cuts for anybody under 250,000, extend unemployment benefits for two million folks. um, now, if that happens, it goes to the house, and the house will probably have to put it up. aren't republicans, your party, going to wish that they had passed plan b? >> absolutely, gregg. look, plan b really should have been our plan a, number one. number two, plan b was really the idea of chuck schumer and nancy pelosi as recently as in this summer. to set the threshold on incomes to a million dollars versus 250,000, allow those tax rates for a million and above go up, the president ta
economy from going over the fiscal cliff as a group of democrats push for the extension of most of the bush-era tax cuts, cuts they say staunchly -- they opposed years ago. joining us now to talk about it, tony -- [inaudible] a republican political analyst and consultant and a national political correspondent for talk radio news service. michael is a democratic strategist, and he joins us as well. good to see you both. tony, look, the word we're getting is that harry reid is going to pass an...
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Dec 29, 2012
12/12
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the fiscal cliff, still looming. spending cuts and tax hikes that could shove our economy into recession. and a deadline lawmakers ignored until the very last possible minute. live pictures now of the capitol. looks beautiful. man, but there's a lot of wrangling going on there. lawmakers are back up -- had their backs up against the wall right now. and as they try to find a plan that can pass congress. let's hope they do. cnn's chief white house correspondent is jessica yellin. she is following the negotiations, working very hard on this saturday. so jess, democrats and republicans are supposedly working on a plan, even as we speak. what do we know about it? >> reporter: well, we know, don, that it's the senate leaders that are hashing this out. and what they're looking to negotiate is a deal that would extend current low tax rates for middle income americans. we don't know the exact threshold levels. so would it be people who make $400,000 and less, would it be $250,000 and less. but something that would extend low
the fiscal cliff, still looming. spending cuts and tax hikes that could shove our economy into recession. and a deadline lawmakers ignored until the very last possible minute. live pictures now of the capitol. looks beautiful. man, but there's a lot of wrangling going on there. lawmakers are back up -- had their backs up against the wall right now. and as they try to find a plan that can pass congress. let's hope they do. cnn's chief white house correspondent is jessica yellin. she is following...
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Dec 30, 2012
12/12
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in terms of immediate damage to the economy, the fiscal cliff has the potential to do more damage more quickly. there are other aspects of obamacare that are positive in terms of continued coverage for children up to 26 and a variety of things. every time i walk into an emergency room, i get angry at the number of people i have to in that -- i have to end up paying for basic health care for. people who walk in to get treated for a cold is something we all end up paying for. to the extent we can get health care for some of these folks in a way that would prevent the expenses from happening is a positive issue to be looking at as well. guest: if you are over 65 and can get medicare, there should not be any reason your health care or what the doctor can do for you will change with the new year. even if you are concerned about the doctor payments, that will be taken care of shortly. that is the one part of the fiscal cliff i am sure will be avoided before it affects medicare patients seeing doctors. guest: i am glad you said that. that may be one thing she was talking about. part of the fi
in terms of immediate damage to the economy, the fiscal cliff has the potential to do more damage more quickly. there are other aspects of obamacare that are positive in terms of continued coverage for children up to 26 and a variety of things. every time i walk into an emergency room, i get angry at the number of people i have to in that -- i have to end up paying for basic health care for. people who walk in to get treated for a cold is something we all end up paying for. to the extent we can...
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Dec 27, 2012
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cliff. >> if in fact we do go over the fiscal cliff it means the economy is going to go down pretty sharply. [ buzzing ] bye dad. drive safe. k. love you. [ chirping, buzzing continues ] [ horn honks ] [ buzzing continues ] [ male announcer ] the sprint drive first app. blocks and replies to texts while you drive. we can live without the &. visit sprint.com/drive. . gregg: you expect accrued of lines when you're shopping. how about sharks? look at those cameras rolling. a giant aquarium bursts, e phroedz insid explodes inside a mall in sang high china it sends glass, water, everywhere, including sharks. fortunately the sharks weren't terribly hungry at the moment and they didn't get very far. patti ann: george h.w. bush is in intensive care at a houston hospital battling a subject born fever. the former president has been sick for a few weeks now. on november 7th he was admitted to methodist hospital in houston what cough. he was later released only to be readmitted on november 23rd. by december 13th a hospital spokesman said the former president was improving and should be able to
cliff. >> if in fact we do go over the fiscal cliff it means the economy is going to go down pretty sharply. [ buzzing ] bye dad. drive safe. k. love you. [ chirping, buzzing continues ] [ horn honks ] [ buzzing continues ] [ male announcer ] the sprint drive first app. blocks and replies to texts while you drive. we can live without the &. visit sprint.com/drive. . gregg: you expect accrued of lines when you're shopping. how about sharks? look at those cameras rolling. a giant...
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Dec 27, 2012
12/12
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you have the debt and the fiscal cliff. it's not looking too good right now when it comes to the u.s. economy. >> geithner told congressional leaders that his department is using some accounting measures basically a fancy way of saying they're going to free up cash to hold off temporarily this fiscal cliff. but it's still not looking good. >> i don't know about you at home, but kicking the can down the road has been happening over and over again. somebody has to make some decisions here. >> it's like in this business, they give you a deadline and you have to hit the deadline. there's no coming in and saying take another ten minutes. it don't work that way in real life. there are americans out there saying get off your couches. get back to washington and get the deal done. >> sometimes it's not pretty when you have to rush, but get it done. >>> still on the economy now, new signs of a turn around in the real estate market. for the first time since 2006, average housing prices may end the year on an upward trend. good news th
you have the debt and the fiscal cliff. it's not looking too good right now when it comes to the u.s. economy. >> geithner told congressional leaders that his department is using some accounting measures basically a fancy way of saying they're going to free up cash to hold off temporarily this fiscal cliff. but it's still not looking good. >> i don't know about you at home, but kicking the can down the road has been happening over and over again. somebody has to make some decisions...
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Dec 28, 2012
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economy and make over the so-called fiscal cliff. reaching a deal before them will not be easy. because right now, both sides are involved in a high-stakes political blame game. >> we are here in washington working while the members of the house of representatives are all watching movies and watching their kids play soccer and basketball and doing all kinds of things. they should be here. i told president i would be happy to look at what they're he promises but the truth is is that we are coming up against a hard deadline here and as i said this is a conversation we should have had months ago. >> democrats want to extend the bush era tax cuts to everyone except those americans who are making $250,000 or more a year. many republicans remain against the tax increases. >> former president george h. w. bush is still in intensive care at a houston hospital this morning dealing with a stubborn fever. the former president's family is confident that he will be out of the i see you soon. the 88 year-old has been in a hospital for more than a month, after first coming down with bronchitis
economy and make over the so-called fiscal cliff. reaching a deal before them will not be easy. because right now, both sides are involved in a high-stakes political blame game. >> we are here in washington working while the members of the house of representatives are all watching movies and watching their kids play soccer and basketball and doing all kinds of things. they should be here. i told president i would be happy to look at what they're he promises but the truth is is that we are...
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Dec 24, 2012
12/12
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a lot of investors think if we can just get over, get past the fiscal cliff, we're going to have a pretty good year in 2013. people are saying, you know, big companies are in good shape. we're just kind of waiting for this economy to pick up steam. the housing markets is now -- has now turned around. consumers have paid down debt. there are a lot of things that are sort of going the right way, except for one thing. we need washington to solve this problem. >> again, it's not going to be a big deal within the time that's gin left. what can americans expect come payday in the new year? the affect that's going to be in their paycheck for tax reasons. >> we all know if there's not -- sthe they could come up with a short-term deal that really just pushes the whole thing off. it says this deadline is -- we're going to change the deadline. they can do that. i mean, whether they're going to do that or not, nobody is quite sure, but it does sound like the door is open for congress to come back in. it may not hit on january 1st the way people think, but this whole thing could unravel, you know, and
a lot of investors think if we can just get over, get past the fiscal cliff, we're going to have a pretty good year in 2013. people are saying, you know, big companies are in good shape. we're just kind of waiting for this economy to pick up steam. the housing markets is now -- has now turned around. consumers have paid down debt. there are a lot of things that are sort of going the right way, except for one thing. we need washington to solve this problem. >> again, it's not going to be a...
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Dec 27, 2012
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despite all those worries about the fiscal cliff and maybe slower growth in the u.s. economy, the stock market has had a great year. too bad you missed out. the smart money's been in the market. the rest of us have been worried about the fiscal cliff. >> number eight, facebook's ipo. hundreds of millions of people like facebook but investors did not on its first day as a public company. trading glitches at the nasdaq and questions about the company's ability to make money on mobile users pummeled the stock which has yet to climb its way back to its ipo price. >> number seven, mother meyer, the new ceo of yahoo!. 37 years old. looks like a mother's touch is just exactly what yahoo! needed. >> number six, mother nature. an intense drought in the midwest that scorched the soy and corn crop sending prices sky high. who could forget superstorm sandy. neighborhoods swept away, millions without power and damages as high as $50 billion, raising lots of questions about u.s. infrastructure and whether we should be spending some money to fix it. >> number five, china. is china s
despite all those worries about the fiscal cliff and maybe slower growth in the u.s. economy, the stock market has had a great year. too bad you missed out. the smart money's been in the market. the rest of us have been worried about the fiscal cliff. >> number eight, facebook's ipo. hundreds of millions of people like facebook but investors did not on its first day as a public company. trading glitches at the nasdaq and questions about the company's ability to make money on mobile users...
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economy held hostage. >> if congress allows the economy to fall off the fiscal cliff, the budget for the u.s. air force will be cut by $4 billion. [ male announcer ] at scottrade, we believe the more you know, the better you trade. so we have ongoing webinars and interactive learning, plus, in-branch seminars at over 500 locations, where our dedicated support teams help you know more so your money can do more. [ rodger ] at scottrade, seven dollar trades are just the start. our teams have the information you want when you need it. it's another reason more investors are saying... [ all ] i'm with scottrade. it's another reason more investors are saying... sfx- "sounds of african drum and flute" look who's back. again? it's embarrassing it's embarrassing! we can see you carl. we can totally see you. come on you're better than this...all that prowling around. yeah, you're the king of the jungle. have you thought about going vegan carl? hahaha!! you know folks who save hundreds of dollars by switching to geico sure are happy. how happy are they jimmy? happier than antelope with night-vis
economy held hostage. >> if congress allows the economy to fall off the fiscal cliff, the budget for the u.s. air force will be cut by $4 billion. [ male announcer ] at scottrade, we believe the more you know, the better you trade. so we have ongoing webinars and interactive learning, plus, in-branch seminars at over 500 locations, where our dedicated support teams help you know more so your money can do more. [ rodger ] at scottrade, seven dollar trades are just the start. our teams have...
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Dec 26, 2012
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>>> fears of the fiscal cliff are taking some of the holiday cheer right out of wall street. cnn's alison kosik watching the post-christmas trading as well as a threat to the economy that could come even sooner than the cliff? let's start with the stocks, though. >> reporter: yes, stocks, very quiet today, very quiet session. not many investors in the game today. expect that to be the case the rest of the week. the fun tny thing, this is usuay the time we see the santa claus rally. the dow down 46 points. no deal on the if i'm not mistaken. that's spoiling the rally so far. it could be worse, though. we've seen much harsher reaction to all the congressional shenanigans in the past that could be a sign the economy is in better shape this time around. the s&p 500 is still on track for a 13% gain for the year. >>alison, what's the container cliff? >> reporter: the container cliff could be serious stuff. it could be a major threat to the economy. but it's also something that can be avoided. this container cliff is the name the national retail federation has given to this situatio
>>> fears of the fiscal cliff are taking some of the holiday cheer right out of wall street. cnn's alison kosik watching the post-christmas trading as well as a threat to the economy that could come even sooner than the cliff? let's start with the stocks, though. >> reporter: yes, stocks, very quiet today, very quiet session. not many investors in the game today. expect that to be the case the rest of the week. the fun tny thing, this is usuay the time we see the santa claus...
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Dec 28, 2012
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economy. [ tylenol bottle ] we are? yeah we both relieve coughs, sneezing, aches, fevers. and i relieve nasal congestion. overachiever. [ female announcer ] tylenol® cold multi-symptom nighttime relieves nasal congestion. nyquil® cold and flu doesn't. time for citi price rewind. because your daughter really wants that pink castle thing. and you really don't want to pay more than you have to. only citi price rewind automatically searches for the lowest price. and if it finds one, you get refunded the difference. just use your citi card and register your purchase online. have a super sparkly day! ok. [ male announcer ] now all you need is a magic carriage. citi price rewind. start saving at citi.com/pricerewind. >>> as if the looming fiscal cliff wasn't enough to worry about, now 14,000 dockworkers at ports from massachusetts to texas are threatening to go on strike sunday. that could cost americans billions of dollars, because shipping costs on everything from shoes to cars would skyrocket. c
economy. [ tylenol bottle ] we are? yeah we both relieve coughs, sneezing, aches, fevers. and i relieve nasal congestion. overachiever. [ female announcer ] tylenol® cold multi-symptom nighttime relieves nasal congestion. nyquil® cold and flu doesn't. time for citi price rewind. because your daughter really wants that pink castle thing. and you really don't want to pay more than you have to. only citi price rewind automatically searches for the lowest price. and if it finds one, you get...
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Dec 29, 2012
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. >> that's discussed as part of a fiscal cliff deal, but many believe that will end up hurting the economy, giving a disincentive to invest money? was that just focused on the real wealthy? >> i hear that argument a lot. number one is, i'm really tired of our tax policy decisions. you know, everything, being made by what the market's going to do in the next quarter. this is about aberration of the tax code and grossly unfair. say they raise top tax rate to 39.6% for those making more than $500,000. that means a lot of small businesses will are paying that nearly 40% marginal tax rate where you have billionaire private equity funds paying 15, 20, even 24, depending where they put it. it's not an issue of penalizing investment income. it's an issue of penalizing labor, and those who make their income through wages. both are legitimate and both should be taxed at the same rate. so i do -- again, fundamental tax reform could solve this problem, but at least raising the capital gains rate would help address this anomaly and susan collins and claire mccaskill have a proposal to try to give small
. >> that's discussed as part of a fiscal cliff deal, but many believe that will end up hurting the economy, giving a disincentive to invest money? was that just focused on the real wealthy? >> i hear that argument a lot. number one is, i'm really tired of our tax policy decisions. you know, everything, being made by what the market's going to do in the next quarter. this is about aberration of the tax code and grossly unfair. say they raise top tax rate to 39.6% for those making...
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. >>> fiscal cliff isn't the only threat to the u.s. economy. get a load of this. the container cliff. nearly 15,000 dockworkers from maryland to texas are threatening to strike, starting sunday, which could shut down more than a dozen key shipping ports and cripple commerce across the country. dock on workers are demanding higher container royalties to boost their pay. >>> did the newtown school shooter have an evil gene? scientists at the university of connecticut will study adam lanza's dna to see if a mutation or ab normality could have made him more violent? this is the first study of its kind on a mass killer. >>> jockeying started for john kerry's senate seat, even before it's vacant. massachusetts congressman ed markey throwing his hat into the ring in kerry becomes secretary of state, which is expected, a special election will be held early this summer. markey is the first prominent candidate to declare for the race. >>> love this story. paying it forward by paying it backward. a story of rampant generosity and good will in canada happening in winnipeg. on
. >>> fiscal cliff isn't the only threat to the u.s. economy. get a load of this. the container cliff. nearly 15,000 dockworkers from maryland to texas are threatening to strike, starting sunday, which could shut down more than a dozen key shipping ports and cripple commerce across the country. dock on workers are demanding higher container royalties to boost their pay. >>> did the newtown school shooter have an evil gene? scientists at the university of connecticut will study...
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economy falls off the fiscal cliff, it will have an impact around the world. haus sirken is a partner and fellow of the overseas markets and joins us from chicago. thanks for being with us on this weekend. the idea -- >> great being with you, martin. >> thank you. the idea of the world being affected by the fiscal cliff problem here in america wasn't really lost on the president after his meeting with congressional immediate leaders yesterday. let's listen. >> i'm modestly optimistic that an agreement can be achieved. nobody is going to get 100% what have they want. but let's make sure that middle class families and the american economy and, in fact, the world economy, aren't adversely impacted because people can't do their jobs. >> so that begs the question, hall. how are other countries preparing for this really precarious situation and one in which they really have no control. >> well, martin, there's not much they can do to prepare. what will happen, if the fiscal cliff turns out to take place, is that we'll start to see the economy beginning to slide. the
economy falls off the fiscal cliff, it will have an impact around the world. haus sirken is a partner and fellow of the overseas markets and joins us from chicago. thanks for being with us on this weekend. the idea -- >> great being with you, martin. >> thank you. the idea of the world being affected by the fiscal cliff problem here in america wasn't really lost on the president after his meeting with congressional immediate leaders yesterday. let's listen. >> i'm modestly...
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of the fiscal cliff. i am pleased senators from both parties are currently working to find a bipartisan solution and finally passed the chamber. if that is the type of leadership american needs, not what they saw from the president this morning. the words of the speaker of the house, john boehner. the senate and house are in today. the senate gavelled in 10 minutes ago. on their agenda today is a couple of nominations, nomination votes at 2:00 p.m. eastern. forn they will gavel iout about an hour to discuss possible solutions to the fiscal cliff. the house will come in at 2:00 p.m. eastern. they have 14 suspension bills on the agenda this afternoon. we expect them to come in at 2:00. vote's expected 6:30 eastern. we will have live coverage on c- span. representative ron paul, former republican candidate, wraps up 24 years in the u.s. house. the baltic and look next at his farewell speech -- we will take alook nexxt at his farewell speech. >> my goals in 1976 were the same as they are today, promote peace
of the fiscal cliff. i am pleased senators from both parties are currently working to find a bipartisan solution and finally passed the chamber. if that is the type of leadership american needs, not what they saw from the president this morning. the words of the speaker of the house, john boehner. the senate and house are in today. the senate gavelled in 10 minutes ago. on their agenda today is a couple of nominations, nomination votes at 2:00 p.m. eastern. forn they will gavel iout about an...
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. >> number one is the fiscal cliff. lawmakers saw it coming and didn't bother to pay any attention to it until after the election. had they put politics aside and dealt with it earlier, who knows how strong the u.s. economy would be right now. >> and make sure you join me for the biggest stories of the year in crime, politic, money and the most scandalous stories. the top ten of 2012, 8:00 eastern. a teen battling a terminal illness uses lyrics instead of letters to say goodbyes. >> it's kind of me always being there for him. like if they keep singing that song throughout their life, it will be worth it. >> this teen's final wish, next. s that will make it drop over, and over again. ♪ from jammin' jerk chicken, to creamy gouda bisque. see what's new from campbell's. it's amazing what soup can do. with less chronic osteoarthritis pain. imagine living your life with less chronic low back pain. imagine you, with less pain. cymbalta can help. cymbalta is fda-approved to manage chronic musculoskeletal pain. one non-narcoti
. >> number one is the fiscal cliff. lawmakers saw it coming and didn't bother to pay any attention to it until after the election. had they put politics aside and dealt with it earlier, who knows how strong the u.s. economy would be right now. >> and make sure you join me for the biggest stories of the year in crime, politic, money and the most scandalous stories. the top ten of 2012, 8:00 eastern. a teen battling a terminal illness uses lyrics instead of letters to say goodbyes....
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not just the fiscal cliff with the potential threat to the economy, thousands of dockworkers from maine to texas could go on strike within days if their union can't reach a deal with major shipping companies. these are the workers who move goods from the nation's ports to the stores. >> everybody from your mom and pop retailer to your farmer, to the trucking company who has go in and pick up the containers at the ports. this will be felt not just at the local economy, but nationwide for everybody else who relies on these ports. >> one port official says east and gulf coast ports handle about $55 billion worth of cargo a month so a strike could have a major effect on the retail business. >>> land lines not going the way of the vcr just yet. older americans are slow to get rid of land lines and go mobile. the centers for disease control asked 20,000 households about trends throughout the year. the study found about 52% use cell phones for all of their cal calls, that's less than 2% increase from previous years. the older generation is slower to make the switch. >>> patrick democracy might
not just the fiscal cliff with the potential threat to the economy, thousands of dockworkers from maine to texas could go on strike within days if their union can't reach a deal with major shipping companies. these are the workers who move goods from the nation's ports to the stores. >> everybody from your mom and pop retailer to your farmer, to the trucking company who has go in and pick up the containers at the ports. this will be felt not just at the local economy, but nationwide for...
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the fiscal cliff -- i believe both sides know what to do. it is going to be painful. either raise taxes or cut spending. both need to be done. our taxes are going to go up. some good programs will be cut automatically on january 1 if they do not come up with an agreement. that was designed by the politicians to deal with the fiscal problems. it reminds me of the old "national lampoon" comfort that if you don't buy this magazine, we will shoot this dog. save us from ourselves or help us save us from ourselves. it didn't work. they have about a week to go. i suspect they will kick the can down the road. a short-term way to get is passed the immediate collapse of what is stalling certain cuts. maybe unemployment benefits, that kind of thing. i think there will give a short- term answer. host: a lot of headlines are about the republicans and their caucus. what about democrats? are they at fault as well? "we do not want medicare to be touched." the democrats see have put their feet down and said, "we will not do anything." the republican party is divided. i have not seen o
the fiscal cliff -- i believe both sides know what to do. it is going to be painful. either raise taxes or cut spending. both need to be done. our taxes are going to go up. some good programs will be cut automatically on january 1 if they do not come up with an agreement. that was designed by the politicians to deal with the fiscal problems. it reminds me of the old "national lampoon" comfort that if you don't buy this magazine, we will shoot this dog. save us from ourselves or help...
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>> once we get past the fiscal cliff we know it will take some dollars out of the economy, whether it is higher taxes or entitlement cuts. it will create a little bit of a shock to the economy but there are bright spots we should look for in 2013. harris: there are three you said. what are they? >> housing, energy and huge amount, trillions of dollars sitting on the sidelines by corporate america, waiting to come into the economy once this picture clears up. harris: we're getting housing numbers coming this week already. we're starting to see prices rose a little bit this fall. that is a good sign. we're seeing housing starts have come up as well. so i understand that. energy. >> energy is a game-changer, it really is. we look what is going on around the world. the europeans, far east, they're paying over $17 a btu for natural gas. we get it for $3 in this country. dow chemical just proposed building the largest chemical plant it has in the world here in this country because of the competitive advantage of natural gas. imagine if we could liquify, ship it to europe, ship it to the far
>> once we get past the fiscal cliff we know it will take some dollars out of the economy, whether it is higher taxes or entitlement cuts. it will create a little bit of a shock to the economy but there are bright spots we should look for in 2013. harris: there are three you said. what are they? >> housing, energy and huge amount, trillions of dollars sitting on the sidelines by corporate america, waiting to come into the economy once this picture clears up. harris: we're getting...
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economy caught right in the middle. we can only, of course, be talking about the fiscal cliff. our political panel is going to weigh in on the chances for a deal. try running four.ning a restaurant is hard, fortunately we've got ink. it gives us 5x the rewards on our internet, phone charges and cable, plus at office supply stores. rewards we put right back into our business. this is the only thing we've ever wanted to do and ink helps us do it. make your mark with ink from chase. >>> the pressure is on as harry reid and mitch mcconnell race against the clock to find a fix to the fiscal cliff. joining me are cnn contributor and democratic strategist maria cardona and republican strategist ron bonjin. good morning to you. >> good morning. >> good morning. >> ron, i'll start with you. reid and mcconnell, they really are the focus in the senate. in the house, it's speaker john boehner. i've got to ask you, is his job on the line if republicans balk at any deal that's reached? >> no, not at all. speaker boehner is extremely strong. his conferences support him and knows that he's bee
economy caught right in the middle. we can only, of course, be talking about the fiscal cliff. our political panel is going to weigh in on the chances for a deal. try running four.ning a restaurant is hard, fortunately we've got ink. it gives us 5x the rewards on our internet, phone charges and cable, plus at office supply stores. rewards we put right back into our business. this is the only thing we've ever wanted to do and ink helps us do it. make your mark with ink from chase. >>>...
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cliff. will congress and the white house be able to reach a deal before americans see a 500 billion dollar tax increase? >> and george h.w. bush's health taking a turn for the better. there's good news regarding the former president's healths. >> clayton: well put. >> juliet: well said. >> clayton: a frightening moment when an airplane broke in half crashing on to a busy highway, caught on camera. watch this. >> juliet: oh, how about that car? >> that's not something you see every day. >> no. >> "fox & friends" begins right now. ♪ >> hey, everybody. >> juliet: hi, everybody. >> dave: good sunday morning, juliet huddy in for ali. how are you doing, my friend. >> clayton: dave usually gets the coffee. and no coffee around this place. >> dave: i apologize. >> clayton: dave overslept and dropped the ball. >> dave: it happened with my iphone. i woke up an hour too late to my wife shaking me. >> juliet: i don't know what it is about this morning. i'm like in lala land. >> clayton: there is no sn
cliff. will congress and the white house be able to reach a deal before americans see a 500 billion dollar tax increase? >> and george h.w. bush's health taking a turn for the better. there's good news regarding the former president's healths. >> clayton: well put. >> juliet: well said. >> clayton: a frightening moment when an airplane broke in half crashing on to a busy highway, caught on camera. watch this. >> juliet: oh, how about that car? >> that's not...
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cliff. >> all eyes will be on the senate after house republicans said it's up to senate leadership to reach a deal. >>> starbucks is urging action asking baristas in his washington, d.c., cafes to write the word "come together" on the cups. >> a new york newspaper facing backlash after it published the names and addresses of local gun owners. >>> a busy shanghai shopping center a shark tank exploded. >>> the windy city of chicago will sport america's most expensive parking meters. >> what do you think about that? >> too much. >> all that -- >> smith catches, shoots puts it up, puts it in at the buzzer! j.r. smith with another game winner! >>> what is your favorite app? >> scrabble. >> sometimes i want to yank that out of your hands. >> and all that matters. >> an endangered thin backed whale watched up on the breezy point section of queens. >> on "cbs this morning." >> i know he's smiling but that medal hanging around his neck there's a 40% chance he'll hang himself with it. captioning funde
cliff. >> all eyes will be on the senate after house republicans said it's up to senate leadership to reach a deal. >>> starbucks is urging action asking baristas in his washington, d.c., cafes to write the word "come together" on the cups. >> a new york newspaper facing backlash after it published the names and addresses of local gun owners. >>> a busy shanghai shopping center a shark tank exploded. >>> the windy city of chicago will sport...
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greg: as lawmakers struggled with the fiscal cliff, treasury secretary timothy geithner is facing an equally harrowing deadline is the u.s. economy approaches its borrowing limit of $16.4 trillion. he says that he is being forced to use extraordinary measures. just to try try to keep things afloat for another few months. do you ever feel like groundhog day? paul harrington is a managing partner of harrington financial llc. i do feel like bill murray in his movie "groundhog day", the movie. it seems to be happening over and over again, doesn't it? [laughter] reporter: this narrative is tiring and frustrating. we have been talking about this every year. we do have a $16.4 trillion debt ceiling. i want people to realize that there are vibrational effects associated with going over or trying to extend the debt ceiling. one example is the credit rating of the united states. we already saw a downgrade their with our respective credit rating in the united states. if we are going to go through the debt ceiling once again, and i suspect that we will revisit having another downgrade to her cre
greg: as lawmakers struggled with the fiscal cliff, treasury secretary timothy geithner is facing an equally harrowing deadline is the u.s. economy approaches its borrowing limit of $16.4 trillion. he says that he is being forced to use extraordinary measures. just to try try to keep things afloat for another few months. do you ever feel like groundhog day? paul harrington is a managing partner of harrington financial llc. i do feel like bill murray in his movie "groundhog day", the...
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. >>> and the fiscal cliff in washington isn't the only major threat to the u.s. economy. this morning, time is running out to avoid a strike by 14,000 dockworkers from boston to houston for demanding better pay. 14 ports which handle half of the nation's shipping traffic are threatened. workers could walk off the job this sunday, costing the economy an estimated $1 billion per day. >>> and for the second time this month, someone has been pushed to their death on a new york subway. a woman seen running away on the left side of this surveillance video, right here, shoved a man on to the tracks last night. he was then crushed by an oncoming train. witnesses say the woman was talking to herself, pacing on the platform before pushing the man from behind. and did not appear to even know the victim. >>> and finally, you don't have to be a football fan to be inspired by this story. for the first time since being diagnosed with leukemia in september, indianapolis colts head coach chuck pagano will return to the field this weekend, a symbol of strength and resilience. he spoke to e
. >>> and the fiscal cliff in washington isn't the only major threat to the u.s. economy. this morning, time is running out to avoid a strike by 14,000 dockworkers from boston to houston for demanding better pay. 14 ports which handle half of the nation's shipping traffic are threatened. workers could walk off the job this sunday, costing the economy an estimated $1 billion per day. >>> and for the second time this month, someone has been pushed to their death on a new york...
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cliff is essentially taking the foot off the gas, putting two feet on the brake pedal and standing up. that is not what we want to do. the question is finding the right balance that still supports a vulnerable economy, yet begins the process to renormalize the revenue level of the federal government. host: now we've got the tweet from a fussy liberal. it says it's time to be a liberal and -- host: how much of the fiscal crisis can be attributed to the war into the afghanistan that were not part to the original budget? caller: it is -- guest: it is instructive to go back. if you look at the current deficit over $1 trillion, still a majority of that is related to the recession that began in 2008. however, it is certainly true that going into that recession, we were dealing with structural deficits that were result-a-result of tax cuts initiated during the bush administration and higher spending levels as well. and so you know, all of those play a role and it's certainly true that at the end of the day, more or less, what we decide to spend as a society, as a government, we have to then
cliff is essentially taking the foot off the gas, putting two feet on the brake pedal and standing up. that is not what we want to do. the question is finding the right balance that still supports a vulnerable economy, yet begins the process to renormalize the revenue level of the federal government. host: now we've got the tweet from a fussy liberal. it says it's time to be a liberal and -- host: how much of the fiscal crisis can be attributed to the war into the afghanistan that were not part...
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the economy is growing. >> if the nation goes over the fiscal cliff next tuesday, each side blames the other. >> we can avoid going over the fiscal cliff if the president and democrat controlled senate step forward this week and work with republicans to solve this problem and solve it now. >> all over the country now, uncertainty is in the area. >> it's not a matter of am i going to pay my light bill or not but will it deplete my savings. >> even if the impact isn't real, the perceived impact could cause us to drop off in sales. >> getting a deal is up to the senate's top democrat and top republican. >> we are engaged in discussions, the majority leader myself and the white house, in hopes we can come forward as early as sunday and have a recommendation. >> whatever we come up with will be imperfect. some people aren't going to like it. >> majority leader harry reid and minority leader mitch mcconnell say they're confident they come to a compromise but they have to sell it to john boehner and fellow republicans before the deadline. >> president obama will be david gregory's exclusive g
the economy is growing. >> if the nation goes over the fiscal cliff next tuesday, each side blames the other. >> we can avoid going over the fiscal cliff if the president and democrat controlled senate step forward this week and work with republicans to solve this problem and solve it now. >> all over the country now, uncertainty is in the area. >> it's not a matter of am i going to pay my light bill or not but will it deplete my savings. >> even if the impact...
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. >> coming at the same time is the fiscal cliff impasse. it's a potentially devastating one-two bunch for the u.s. economy. neither the longshore's union or alliance shipping company would allow anyone to speak on camera. but officials knowledgeable of the negotiations say it boils down to one issue. the key sticking point is the payments that the longshore men get for them. they pay royalties for the containers based on their weight but the shipping companies want to freeze those royalty payments for current longshore men and eliminate them for future hires. the longshore men say the royalties are made to make up for automation. but if the shipping companies lockout the longshore men -- >> that would impact more than containers. that would impact all cargos at ports. that would have a much more impactful reaction. $55 billion worth of cargo in an average month this year. candy? >> brian, i have to imagine retail companies and others who want those goods off the ships and in their stores have to be plenty worried. do they have a plan b to m
. >> coming at the same time is the fiscal cliff impasse. it's a potentially devastating one-two bunch for the u.s. economy. neither the longshore's union or alliance shipping company would allow anyone to speak on camera. but officials knowledgeable of the negotiations say it boils down to one issue. the key sticking point is the payments that the longshore men get for them. they pay royalties for the containers based on their weight but the shipping companies want to freeze those...
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the fiscal cliff and the whole thing deflates. but there are jobs, especially in the digital world looking to hire and many of those people looking for jobs aren't trained properly. >> juliet: we want to talk about this post-christmas nightmare having to pay off the credit card bill. >> kelly: santa takes care of all those bills. >> juliet: the ones that he didn't take care of. the diamonds you bought your girlfriends, that kind of thing. how do we handle this? >> so the most important thing is to pay whatever you can. clearly you overspent, but you want to mitigate the damage to your credit report and credit history. so if you have a lot of credit cards, just pay down whatever you can. prioritize the credit card with the highest interest rates to minimize extra costs. the store cards, they can be a disaster. many times store cards will issue a card with a 20 plus percent interest rate. a national card is 15%. if you open that account because you're being offered a discount of 15, 20% on your merchandise, all you have to do is def
the fiscal cliff and the whole thing deflates. but there are jobs, especially in the digital world looking to hire and many of those people looking for jobs aren't trained properly. >> juliet: we want to talk about this post-christmas nightmare having to pay off the credit card bill. >> kelly: santa takes care of all those bills. >> juliet: the ones that he didn't take care of. the diamonds you bought your girlfriends, that kind of thing. how do we handle this? >> so the...
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the fiscal cliff is a battle of ideological wills. some americans feel strongly that increasing taxes hurts the economy. quite possible that it will. but the central question is whether it will hurt all that much to raise income taxes a little bit on the highest earners in the country. well, to push the country to the edge of a recession over this is irresponsible. the increase will hardly affect the economy. but that's my opinion. and my opinion should count as much as anyone else's. the problem is that in washington one person's opinion carries disproportionate weight and that person is grover norquist. he's the head of americans for tax reform. they have got the pledge that mostly republican members of congress signed to say they won't increase taxes. now, understand this. the top marginal tax rate going from 35% to 39.6% is not a tax increase. it is a return to tax rates that would have taken place after the temporary bush tax cuts expired and got extended. so the way i see it, that cuts with designed to be temporary, but clearly
the fiscal cliff is a battle of ideological wills. some americans feel strongly that increasing taxes hurts the economy. quite possible that it will. but the central question is whether it will hurt all that much to raise income taxes a little bit on the highest earners in the country. well, to push the country to the edge of a recession over this is irresponsible. the increase will hardly affect the economy. but that's my opinion. and my opinion should count as much as anyone else's. the...
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he also referenced the impending fiscal cliff, which threatens to derail the economy if a compromise can't be reached by next week on those big unanswered issues. with both sides locked in the standoff, house republicans are calling on senate democrats to act first. democrats aren't budging much on their demands. they want to extend tax cuts and incomes below $250,000, prolong unemployment benefits, and delay those sweeping spending cuts. sam stein. >> yes. >> what happens in -- and it appears it will happen -- we go off the fiscal cliff for a few days? >> not much, is my understanding. kwb, over time, it will have much more of an impact, and it's unknown exactly what the market's psyche will do with respect to the government's inability to come together. with respect to the tax hikes, it won't be as bad as the rhetoric is suggesting early on. whether it's enough to actually get people to get back to the negotiating table -- because i agree with you, i think we're going to go over that deadline, that's the big question. what kind of political ramifications it will have. it's not as i
he also referenced the impending fiscal cliff, which threatens to derail the economy if a compromise can't be reached by next week on those big unanswered issues. with both sides locked in the standoff, house republicans are calling on senate democrats to act first. democrats aren't budging much on their demands. they want to extend tax cuts and incomes below $250,000, prolong unemployment benefits, and delay those sweeping spending cuts. sam stein. >> yes. >> what happens in -- and...
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only four days before the fiscal cliff. who will compromise and will a deal get done to save the u.s.'s economy? stay tuned to see who will rise above? >>> the dow is currently down 75 although we know president is going to land in an hour or so. who knows what the situation will look like by the time "fast money" comes around. >> we do know we will have the chairman of lion's gate. up 88% and give us a preview of the pipeline for 2013 and see if the stock can keep going. with the markets closed we will have a technical analyst on the market. looks like he is seeing a worse year for 2013. >> and then talk to italian conference members. >> absolutely. >> see you tonight. meantime, if you're just joining us, here's what you missed earlier on. >> welcome to hour three of "squawk on the street." here's what's happening so far. >> we're going to raise taxes and we're going to cut spending. both of those things will have something of a debilitating effect of the growth of gdp this coming year. >> we hear a lot of press release po
only four days before the fiscal cliff. who will compromise and will a deal get done to save the u.s.'s economy? stay tuned to see who will rise above? >>> the dow is currently down 75 although we know president is going to land in an hour or so. who knows what the situation will look like by the time "fast money" comes around. >> we do know we will have the chairman of lion's gate. up 88% and give us a preview of the pipeline for 2013 and see if the stock can keep...